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Published Thu, Jan 26, 2012 04:17 AM
Modified Thu, Jan 26, 2012 11:17 AM

Entrepreneurs' job creation tallied

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BY DAVID RANII - STAFF WRITER

Entrepreneurial North Carolina companies with high growth potential have created 40,560 jobs over the past two decades.

That's according to a study released Wednesday by Durham-based CED, an entrepreneurial support group. The study represents the first such accounting ever compiled, said Joan Siefert Rose, CED's president.

CED collaborated on the report with the First Flight Venture Center, a business incubator based in Research Triangle Park, and two professors at UNC-Chapel Hill, Maryann Feldman and Nichola Lowe.

The study found that of the 1,823 entrepreneurial companies formed since 1992 in North Carolina, 78 percent were "bootstrapped," or self-funded, either by design or because they were unable to raise outside funding. The 397 companies that did attract venture capital or other sources of private capital raised a total of $7.7 billion.

The 1992 cut-off date excludes older Triangle companies such as Cary software company SAS, LED lighting company Cree and Quintiles.

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